WASHINGTON — Personal income dipped $5.6 billion or less than 0.1% in April following a revised 0.3% increase in March, the Commerce Department reported Friday.
Personal income was originally reported as rising 0.2% in March.
April personal spending fell $20.5 billion or 0.2%, after rising a revised 0.1% the previous month. March's spending figure was originally reported as a 0.2% increase.
The April figures were weaker than the expectations of economists polled by Thomson Reuters, who had estimated that both personal income and spending would increase 0.1%.
Disposable personal income ticked down $16.1 billion, or 0.1% in April, following a 0.2% upswing in March. Real disposable income, which is adjusted to remove price changes, rose 0.1% after rising 0.3% the previous month.
The core PCE, which excludes food and energy, rose 1.1% after advancing 1.2% the previous month.
